Good news — Chrysler, which was bailed out in 2009 much to the chagrin of Mitt Romney, doubled its profits in the third quarter of the year.
DETROIT (AP) — Chrysler nearly doubled its third-quarter profit as it continues to post big U.S. sales increases.
The company says it made $381 million last quarter. That’s up 80 percent from the $212 million it made a year earlier.
The profit was due mainly to a 13 percent U.S. sales increase for the quarter.
Chrysler gets three-quarters of its business from the U.S. Unlike other automakers, it sells few cars in Europe and isn’t being hurt by the economy there.
Meawhile, Team Romney are making asses of themselves by sticking by their wild claim that Jeep is moving production to China because of President Obama.
That’s a lie, and Chrysler itself has come right out and said so.
Despite clear and accurate reporting, the take has given birth to a number of stories making readers believe that Chrysler plans to shift all Jeep production to China from North America, and therefore idle assembly lines and U.S. workforce. It is a leap that would be difficult even for professional circus acrobats.
Let’s set the record straight: Jeep has no intention of shifting production of its Jeep models out of North America to China. It’s simply reviewing the opportunities to return Jeep output to China for the world’s largest auto market. U.S. Jeep assembly lines will continue to stay in operation. A careful and unbiased reading of the Bloomberg take would have saved unnecessary fantasies and extravagant comments.
Yes, but, Team Romney runs on unnecessary fantasies and extravagant comments. It’s a renewable energy source for them.
OFA isn’t letting this lie go unanswered.
Here’s your obligatory link to Let Detroit Go Bankrupt.
IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed.